Faruqi & Faruqi, LLP Investigates Claims on Behalf of Nextracker Investors

Faruqi & Faruqi, LLP is taking steps to investigate the potential claims of investors who have suffered losses related to Nextracker Inc. (NASDAQ: NXT). If you are one of the investors affected and your losses exceed $75,000 during the period from February 1, 2024 to August 1, 2024, you are encouraged to reach out for a discussion about your legal options.

If you would like to speak directly with a partner from Faruqi & Faruqi, James (Josh) Wilson is the point of contact. He can be reached at 877-247-4292 or 212-983-9330 (Ext. 1310).

Faruqi & Faruqi, established in 1995, has a strong reputation as a national securities law firm, with offices in New York, Pennsylvania, California, and Georgia. The firm has successfully secured hundreds of millions of dollars for investors over the years. More information can be found on their website.

The investigation stems from allegations that Nextracker and its executives have violated federal securities laws. Specifically, the complaint points out several misleading actions and failures to disclose critical information, including the following:

• Project delays have impacted Nextracker's business performance more severely than originally stated.
• Permitting and interconnection delays severely limited Nextracker's ability to convert its backlog into expected revenue.
• Increased client demand and accelerated projects did not compensate for project delays as claimed by company representatives.
• Nextracker lacks the supposed competitive advantages meant to protect it from broader industry challenges.
• The positive statements made about the company’s financial health were unfounded.

The class action lawsuit indicates that, on August 1, 2024, Nextracker disclosed a sequential revenue decline from $737 million in Q4 of fiscal year 2024 to $720 million in Q1 of fiscal year 2025. Additionally, the gross profit decreased from $340 million to $237 million in the same timeframe. This was the first time Nextracker failed to raise its business guidance since going public, hinting at a slowdown in growth expectations.

This news led to a notable decrease in Nextracker's stock price, dropping approximately 15% over two trading days.

In class action lawsuits, the lead plaintiff is typically the individual with the largest financial stake in the case and who can represent the interests of the group collectively. Any class member can petition the court to be appointed as lead plaintiff, but they also have the option to remain an absent class member. Deciding to become a lead plaintiff will not affect one’s eligibility for any potential recovery.

Faruqi & Faruqi, LLP invites anyone with relevant information about Nextracker’s operations—including whistleblowers, former employees, and shareholders—to contact the firm.

To learn more about the ongoing investigation regarding Nextracker, visit their website or reach out to Josh Wilson at the provided contact numbers.

Follow the firm for updates on platforms such as LinkedIn and X.

Nextracker, Investors, Securities